Amador County Office of Education 2020 21 Annual Budget Adoption - PDF document

6/24/2020 Amador County Office of Education 2020 ‐ 21 Annual Budget Adoption June 24, 2020 Jared Critchfield Assistant Superintendent, Business Services • Business office – Budget development and monitoring, accounting, payroll, purchasing, cash handling, facilities, etc. • External Audit – Annual audit report is presented each January • Board of Trustees – Budget review and approval process – Certification for each interim report • Fiscal Crisis and Management AssistanceTeam (FCMAT) – Multi ‐ year Projections and Fiscal Health Risk Analysis studies complete with the reports posted on the website • California Department of Education (CDE) – Fiscal oversight including approval of annual budget adoption Budget Monitoring and Accountability 1

6/24/2020 2019 ‐ 20 Estimated Actuals 2020 ‐ 21 Budget Federal, Federal, $1,183,837 , LCFF, $786,589 , 9% $2,470,971 , 12% LCFF, 18% $1,791,467 , 26% State, $4,274,581 , 31% Federal Federal State State Local Local LCFF LCFF State, $2,595,219 , Local , Local, 38% $1,613,530 , $5,734,700 , 24% 42% Revenue Components Comparison 2019 ‐ 20 Estimated Actuals 2020 ‐ 21 Budget Service & Other Outgo, Other Outgo, Other $232,750 , 4% 30079, 0% Operating, Services & $2,249,302 , Other 17% Operating , Certificated Certificated Certificated Certificated $1,612,827 , Salaries, Salaries Salaries Salaries, 24% $4,844,624 , Classified Salaries Classified $2,460,835 , 36% Salaries 36% Books and Employee Employee Supplies, Benefits Benefits $265,088 , 2% Books and Books and Books and Supplies Supplies, Supplies $67,107 , 1% Service & Other Services & Operating Other Operating Other Outgo Other Outgo Employee Classified Employee Benefits, Classified Salaries, Benefits, $3,793,043 , Salaries, $2,246,349 , $1,430,542 , 28% $955,233 , 17% 21% 14% Operating Expenditure Components Comparison 2

6/24/2020 Multi ‐ year Projection 2020 ‐ 21 2021 ‐ 22 2022 ‐ 23 Revenue $6,799,788 $6,703,080 $6,620,138 Expenditures $6,759,294 $6,831,167 $6,800,228 Ending Fund Balance $1,119,465 $991,378 $811,288 Reserve for Economic Uncertainties $700,956 $571,869 $390,279 Reserve Percentage 10.37% 8.37% 5.74% Reserve Requirement (4%) $270,372 $273,247 $272,009 ‐ The County Office is expected to meet the state reserve requirement at the end of the fiscal year 2020 ‐ 21 with a projected decrease to reserves in 2021 ‐ 22 and 2022 ‐ 23 ‐ This projection includes the financial impact of the Special Education transfer ‐ These are current projections with a multitude of factors that could change the outlook for the coming years including changes to the current budget from the state legislature County Office 3 ‐ year Outlook General Fund Year by Year Comparison $1,800,000 $1,600,000 $456,460 $1,400,000 $1,200,000 $1,000,000 $446,160 $718,709 $377,306 $323,510 $812,290 $323,510 $800,000 $323,509 $600,000 $231,775 $271,349 $323,509 $57,426 $465,607 $400,000 $700,956 $659,600 $571,869 $503,851 $471,095 $453,855 $439,956 $200,000 $416,646 $390,279 $290,572 $0 $502 2013 ‐ 14 2014 ‐ 15 2015 ‐ 16 2016 ‐ 17 2017 ‐ 18 2018 ‐ 19 2019 ‐ 20 2020 ‐ 21 2021 ‐ 22 2022 ‐ 23 Projected Projected Projected Economic Uncertainties General Reserve Designated ACOE Ending Fund Balance 3

6/24/2020 • Continued fiscal discipline and right ‐ sizing to ensure the county office does not re ‐ enter a cycle of deficit spending • Special Education transfer impacts to budget will be closely monitored • Budget impacts due to the COVID19 Pandemic will continue to be closely monitored • Continued high levels of engagement from the board in fiscal matters • Potential 45 ‐ day Budget Revision for board approval Moving forward 4